Arnulf Baring is a German lawyer who has been “for decades,” as he says on his website, in academia as Professor of contemporary history and political science. He was written a number of books, including one titled “Scheitert Deutschland?” or roughly, “Is Germany Failing?” Published in 1997, it includes a stunningly prescient passage.
So in 1997, Baring said this about the euro and more specifically about the wondrous dynamics of the Eurozone:
They will say that we are subsidizing scroungers, lounging in cafés on the Mediterranean beaches. Monetary union, in the end, will result in a gigantic blackmailing operation. When we Germans demand monetary discipline, other countries will blame their financial woes on that same discipline, and by extension, on us. More, they will perceive us as a kind of economic policeman. We risk once again becoming the most hated people in Europe.
“This prediction about the euro, from a German perspective, deserves some kind of Nostradamus award,” Daniel Hannan tweeted.
In December 2012, I wrote an article on this sort of topic, titled Ten Big Fat Lies To Keep The Euro Dream Alive, which included this as the Number 1 lie, issued by the conniving German government, or rather by the governing party at the time, in order to bamboozle reluctant Germans into accepting the euro and everything that came with it:
1999: “Can Germany be held liable for the debts of other countries? A very clear No!” said a multi-colored piece of propaganda issued by the CDU, the party of Helmut Kohl who was Chancellor at the time, and of Angela Merkel who is Chancellor now. It explained: “The Maastricht treaty forbids explicitly that the EU or the other EU Partners are liable for the debts of any Member State.” Sounds like a bad joke today.
But fear not: because of the 3% deficit limit in the Maastricht Treaty, “euro Member States will therefore be able to service their debts over the long term without any problems.” Thus, the big fat euro lies started before bank notes had even been put into circulation.
So, here are the rest of the lies… Ten Big Fat Lies To Keep The Euro Dream Alive